Ripple Labs has secured approval from Singapore’s Monetary Authority to expand its payment services under its Major Payment Institution license, enhancing cross-border transactions using XRP and RLUSD for banks and businesses.
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Ripple’s Singapore subsidiary gains broader MPI license scope for digital payment tokens.
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The expansion supports efficient, regulated money movement in the Asia-Pacific region.
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Asia-Pacific crypto activity surged 70% year-over-year, with total value received reaching $2.36 trillion according to Chainalysis’ 2025 Global Adoption Index.
Ripple expands Singapore payment license for seamless crypto transactions with XRP and RLUSD. Discover how this boosts institutional adoption in Asia-Pacific amid surging on-chain growth. Stay updated on Ripple’s strategic moves.
What is Ripple’s Expanded Payment License in Singapore?
Ripple’s expanded payment license in Singapore refers to the approval granted by the Monetary Authority of Singapore (MAS) to Ripple Markets APAC, allowing the company to broaden its regulated activities under the Major Payment Institution (MPI) framework. This development enables Ripple to offer enhanced services for digital payment tokens, including collection, holding, swapping, and payouts for financial institutions. The license builds on Ripple’s 2023 MPI approval, focusing on cross-border efficiency using assets like XRP and its stablecoin RLUSD.
How Does This Expansion Benefit Institutions in Asia-Pacific?
Ripple’s license expansion provides financial institutions with a comprehensive suite of regulated payment services tailored for the growing demands of cross-border transactions in the Asia-Pacific region. By leveraging blockchain technology, Ripple Payments facilitates faster settlements, reducing costs and timelines compared to traditional systems. For instance, institutions can now seamlessly integrate XRP for liquidity and RLUSD for stability in their operations.
Supporting data from Chainalysis’ 2025 Global Adoption Index highlights the region’s momentum, showing a 69% year-over-year increase in total crypto value received, totaling $2.36 trillion. Countries like India, Pakistan, Vietnam, the Philippines, South Korea, and Thailand are leading this surge, underscoring Singapore’s central role as a hub for innovation.
Monica Long, Ripple’s President, emphasized the significance, stating that Singapore’s forward-thinking regulatory approach strengthens the company’s commitment to building infrastructure for efficient, secure money movement. This aligns with Ripple’s ongoing investments, including the recent acquisition of crypto custody and wallet provider Palisade on November 4, which bolsters its institutional offerings.
Ripple has operated in Singapore since 2017, viewing the jurisdiction as pivotal to its global strategy. The expanded license now encompasses a wider array of payment activities beyond initial digital payment token buying, selling, and exchange platforms. This positions Ripple to capitalize on the 70% year-over-year growth in on-chain activity across Asia-Pacific, as noted by Fiona Murray, Ripple’s Vice President and Managing Director for the region.
“With this expanded scope of payment activities, we can better support the institutions driving that growth by offering a broad suite of regulated payment services, bringing faster, more efficient payments to our customers,” Murray added. Such enhancements are crucial as Asia-Pacific leads global crypto adoption, fostering trust and compliance in an evolving financial landscape.
Ripple has also made several acquisitions this year to expand its business and institutional-focused offerings, with the latest being crypto custody and wallet company Palisade.
Ripple Labs has received approval from Singapore’s central bank to expand its payment activities in the region, amid a broader push to grow its business and institutional-focused offerings through acquisitions.
Ripple’s Singapore subsidiary, Ripple Markets APAC, has been approved by the Monetary Authority of Singapore (MAS) to expand the scope of its regulated payment activities under its Major Payment Institution (MPI) license, the company said on Monday.
Monica Long, Ripple’s President, said in a statement that the company values “Singapore’s forward-thinking approach,” and the “expanded license strengthens our ability to continue investing in Singapore and to build the infrastructure financial institutions need to move money efficiently, quickly, and safely.”
Ripple Payments’ system uses digital payment tokens such as its stablecoin RLUSD and XRP (XRP) for cross-border transactions. The service was created to act as an on-ramp and off-ramp that supports collection, holding, swapping and payouts for banks and companies, according to Ripple.
Source: Ripple
The company has already made several significant acquisitions this year to expand its business and institutional-focused offerings, with one of the more recent instances on Nov. 4, when it acquired crypto custody and wallet company Palisade.
Singapore ‘pivotal’ to Ripple’s global business
Ripple was approved for its MPI license in 2023, which allowed it to offer regulated digital payment token services in Singapore.
As of Monday, the MAS website still only lists digital payment token services under Ripple’s license, which “refers to buying or selling digital payment tokens or providing a platform to allow users to exchange digital payment tokens.”
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Ripple has been operating in Singapore since 2017, and the company said the area is “pivotal” to its global business.
Crypto use in the Asia Pacific region surges
Meanwhile, Fiona Murray, Ripple’s vice president and managing director in the Asia Pacific, said the region has also been experiencing huge growth, with onchain activity up roughly 70% year-over-year in the area, and Singapore sitting “at the center of that growth.”
“With this expanded scope of payment activities, we can better support the institutions driving that growth by offering a broad suite of regulated payment services, bringing faster, more efficient payments to our customers.”
The Asia-Pacific region saw the highest year-on-year growth, according to Chainalysis’ 2025 Global Adoption Index published on Sept. 3.
The total value received was up 69% to $2.36 trillion, led by India, Pakistan and Vietnam, while the Philippines, South Korea and Thailand also featured in the top 20.
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Frequently Asked Questions
What Does Ripple’s Major Payment Institution License Expansion Mean for Cross-Border Payments?
Ripple’s MPI license expansion in Singapore allows for a wider range of regulated digital asset services, enabling faster and more secure cross-border payments using XRP and RLUSD. This supports banks in handling collections, swaps, and payouts efficiently, reducing reliance on slower traditional rails while ensuring compliance with MAS standards.
Why Is Singapore Important for Ripple’s Asia-Pacific Strategy?
Singapore serves as a key hub for Ripple due to its progressive regulatory environment and central position in Asia-Pacific’s booming crypto ecosystem. With on-chain activity rising 70% year-over-year, the expanded license helps Ripple deliver tailored solutions to institutions in high-growth markets like India and Vietnam, promoting seamless global transactions.
Key Takeaways
- Ripple’s License Milestone: The MAS approval broadens Ripple’s MPI scope, enhancing digital token services for institutional clients in Singapore.
- Regional Growth Driver: Asia-Pacific leads crypto adoption with a 69% surge to $2.36 trillion in value, positioning Singapore at the forefront.
- Strategic Acquisitions: Ripple’s purchase of Palisade strengthens custody and wallet capabilities, supporting efficient cross-border infrastructure.
Conclusion
Ripple’s expanded payment license in Singapore marks a significant step in fortifying its institutional offerings across the Asia-Pacific region, integrating XRP and RLUSD for streamlined transactions. As crypto adoption accelerates, with Chainalysis data underscoring the area’s dominance, Ripple is well-equipped to drive innovation. Financial institutions should explore these regulated solutions to capitalize on emerging opportunities in global payments.
